Facebook Stock Flirting With Going Under $18

Josh WolfordSocial Media

Share this Post

To say Facebook stock has struggled since their May IPO is an understatement, and the company continues to see the price fall on the heels of a report from BMO Capital.

Today, Facebook stock hit a new all-time low, at just over $18. As it stands, the price is fluctuating a couple of cents, hovering just over the $18 mark. This is well-under half of the initial offering price, which was $38.

BMO Capital's Daniel Salmon told Bloomberg that "Checks on near-term paid media spending remain challenged." In other words, Facebook is still struggling to monetize. Salmon cut his price estimate on shares from $25 to $15.

Although Facebook stock has been on a consistent and gradual decline since the IPO, share price really took a pounding earlier this month when the lockup period requiring shareholders to hold on to stock for a designated amount of time finally came to a close. Shortly after that, the price tanked to its then-lowest point $19.76.

A few days later, it finally crossed the $19 mark, touching down at $18.75. But it didn't close at under $19. Today may be the first day that Facebook stock closes sub-$19.

As of the writing of this article, the price sits at $18.08, which is down 5.28% since its opening price today. It's lowest point today was $18.06.

And this is Facebook's stock price from the IPO day (May 18th) to now...

Josh Wolford
Josh Wolford is a writer for WebProNews. He likes beer, Japanese food, and movies that make him feel weird afterward. Mostly beer. Follow him on Twitter: @joshgwolf Instagram: @joshgwolf Google+: Joshua Wolford StumbleUpon: joshgwolf